Atria Wealth Solutions Inc. Invests $577,000 in Leonardo DRS, Inc. $DRS

Key Points

• Atria Wealth Solutions Inc. has invested approximately $577,000 in Leonardo DRS, acquiring 12,423 shares of the company during the second quarter.
• Leonardo DRS has received upgrades from analysts, including a shift from "hold" to "strong-buy" by Zacks Research and an increased price target by Morgan Stanley from $44.00 to $47.00.
• Leonardo DRS declared a quarterly dividend of $0.09 per share and reported earnings of $0.23 per share for the last quarter, beating the consensus estimate.

Atria Wealth Solutions Inc. acquired a new position in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,423 shares of the company's stock, valued at approximately $577,000.

Several other hedge funds and other institutional investors have also modified their holdings of DRS. Nisa Investment Advisors LLC grew its stake in shares of Leonardo DRS by 92.3% in the first quarter. Nisa Investment Advisors LLC now owns 1,273 shares of the company's stock worth $42,000 after acquiring an additional 611 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Leonardo DRS in the first quarter worth $50,000. Twin Tree Management LP acquired a new stake in Leonardo DRS during the first quarter worth $58,000. CWM LLC increased its holdings in Leonardo DRS by 147.1% in the 1st quarter. CWM LLC now owns 5,518 shares of the company's stock valued at $181,000 after buying an additional 3,285 shares during the period. Finally, Rice Partnership LLC bought a new stake in Leonardo DRS in the 2nd quarter valued at $202,000. Institutional investors and hedge funds own 18.76% of the company's stock.

Wall Street Analyst Weigh In

DRS has been the topic of several analyst reports. Zacks Research raised shares of Leonardo DRS from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 14th. Morgan Stanley boosted their price target on shares of Leonardo DRS from $44.00 to $47.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. Canaccord Genuity Group initiated coverage on shares of Leonardo DRS in a report on Monday, August 11th. They issued a "buy" rating and a $50.00 price target on the stock. Truist Financial boosted their price target on shares of Leonardo DRS from $45.00 to $51.00 and gave the company a "buy" rating in a report on Friday, July 11th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Leonardo DRS in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.75.

Leonardo DRS Stock Down 0.7%

DRS opened at $39.34 on Monday. The firm's 50-day simple moving average is $42.31 and its 200-day simple moving average is $42.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.70 and a current ratio of 2.11. Leonardo DRS, Inc. has a twelve month low of $27.87 and a twelve month high of $49.31. The firm has a market cap of $10.47 billion, a price-to-earnings ratio of 42.30, a PEG ratio of 2.05 and a beta of 0.56.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.01. Leonardo DRS had a net margin of 7.31% and a return on equity of 11.02%. The business had revenue of $829.00 million for the quarter, compared to analyst estimates of $824.50 million. During the same quarter in the prior year, the firm earned $0.18 EPS. The firm's quarterly revenue was up 10.1% compared to the same quarter last year. Leonardo DRS has set its FY 2025 guidance at 1.060-1.110 EPS. Equities research analysts anticipate that Leonardo DRS, Inc. will post 1.04 EPS for the current fiscal year.

Leonardo DRS Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th were given a dividend of $0.09 per share. The ex-dividend date was Wednesday, August 20th. This represents a $0.36 annualized dividend and a yield of 0.9%. Leonardo DRS's dividend payout ratio is 38.71%.

Insider Buying and Selling

In related news, COO John Baylouny sold 11,420 shares of the company's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $41.78, for a total transaction of $477,127.60. Following the transaction, the chief operating officer owned 114,488 shares in the company, valued at $4,783,308.64. This represents a 9.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eric Salzman sold 4,403 shares of the company's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $41.17, for a total transaction of $181,271.51. Following the transaction, the director owned 11,820 shares in the company, valued at approximately $486,629.40. This trade represents a 27.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,039 shares of company stock worth $2,303,587 in the last 90 days. Corporate insiders own 0.12% of the company's stock.

Leonardo DRS Profile

Leonardo DRS, Inc, together with its subsidiaries, provides defense electronic products and systems, and military support services. It operates through Advanced Sensing and Computing (ASC) segment, and Integrated Mission Systems (IMS) segments. The ASC segment designs, develops, and manufacture sensing and network computing technology that enables real-time situational awareness required for enhanced operational decision making and execution; and offers sensing capabilities span applications, such as missions requiring advanced detection, precision targeting and surveillance sensing, long range electro-optic/infrared, signals intelligence, and other intelligence systems including electronic warfare, ground vehicle sensing, active electronically scanned array tactical radars, dismounted soldier, and space sensing.

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